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Strategies & Market Trends : Currencies and the Global Capital Markets -- Ignore unavailable to you. Want to Upgrade?

To: Hawkmoon who wrote (2750)	12/27/2000 9:49:48 PM
From: Ahda	Read Replies (2) \| Respond to of 3536

Ron part of the bubble in tech was due to perception of the public. Our earnings are not showing above and beyond expectation but increased warnings on said have been the standard lately so perception in the world is changing as realism takes hold. You can thank the fantasy that went on with the net for this. London times business section. 15:24 WEDNESDAY DECEMBER 27 2000 Euro, pound makes gains against dollar The euro and the pound made strong gains against the dollar today as concern as continuing worries about the state of the US economy undermined confidence in the dollar. The euro was trading today at 93.1 cents against the dollar, having hit a five-month high of 93.3 cents overnight. Sterling was proving equally strong, trading around the $1.49 mark, its strongest showing since August. The situation is a marked turnaround for the single currency, which in October slumped to a new record low against the US currency of below 83 cents. In the autumn, the central banks of the G7 group of leading industrialised nations intervened to prop up the ailing currency. In September the pound hit a 14-year low against the US currency, dropping below the 1.40 US dollars mark. But clear signs of a slowing down in the US economy, with some economists claiming the country is already in a recession, have reversed the picture, which has encouraged leading investors to invest in other currencies. Nick Parsons, chief currency strategist at Commerzbank, predicted the euro would achieve parity - or one euro to one dollar - in the new year. Sterling would also continue to make gains, but not as strongly as the euro, he forecast.